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Facial Recognition Market Size Report

4 мес. 1 нед. назад #2 от SiyaP
Rapid deployment of biometric technology, video surveillance, and advancements in technology such as cloud-based systems are some major factors driving market growth

Market Size – USD 4.29 Billion in 2020, Market Growth – at a CAGR of 15.7%, Market Trend –Technological advancements in facial expression detection

Vancouver, B.C., April 21, 2021 - The global facial recognition market size is expected to reach USD 13.87 Billion at a steady CAGR of 15.7% in 2028, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising need for physical security, increasing deployment and use of biometric devices, and rising deployment of 5G technology. Rising demand for electronic devices such as mobile phones, wearable devices, smart devices, and increase in technology adoption such as cloud-based technology and IoT is expected to continue to fuel growth of the global facial recognition market going ahead

Increasingly stringent government regulations regarding biometric identity and proof of citizenship and rising deployment of video surveillance to monitor criminal activities are factor increasing investments by governments in facial recognition solutions and systems. Continuous improvements in technology such as Artificial Intelligence and increasing deployment of drone surveillance are some other factors boosting market growth. However, high implementation costs and lack of knowledge and awareness about these solutions are some factors restrain growth of the facial recognition market to a certain extent.

To get leading market solutions, visit the link below: www.emergenresearch.com/industry-report/...l-recognition-market

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